Cryptopia, the cryptocurrency exchange based in Christchurch, recently announced that its instruction hearing has been rescheduled for February 11 and 14 at the Christchurch High Court. The hearing was previously scheduled with a New Zealand court on February 3, 2020.
The January 17 exchange tweet read:
The #Cryptopia directions hearing has been rescheduled to 11-14 Feb @ Christchurch High Court. We are seeking directions about the legal status of customers ’holdings & the ability to hold Cryptocurrency on trust. All Liquidation info can be found here: https://t.co/qtQ7dvcUtc
– Cryptopia Exchange (@Cryptopia_NZ) January 17, 2020
The exchange reported the hack in early January last year, a hack that resulted in the loss of Ethereum and other cryptocurrencies worth $ 16 million. After this, the exchange went to maintenance to evaluate the matter. However, his terrible experience did not end there, as he was the victim of another attack towards the end of January, doubling his losses.
However, it reopened its operations in the following months. This also proved to be a futile attempt as the exchange finally announced its liquidation plans by naming David Roscoe and Russell Moore of Grant Thornton as their liquidators.
Grant Thornton, designated to address the problem, published a report on December 13, 2019, entitled 'Second report of liquidators on the state of affairs of Cryptopia Limited New Zealand', which revealed that approximately NZ $ 10.9 M (US $ 7.15 M) has recovered since liquidation began on May 14, 2019.